Ferrer and Medivir join forces on Adasuve for Nordic markets

Sweden’s Medivir (Nasdaq OMX: MVIR) and privately-held Spanish drugmaker Ferrer Internacional have entered a license and distribution agreement for the commercialization of Adasuve (Staccato loxapine) in the Nordic region.

In Europe, Adasuve is approved for the treatment of mild to moderate agitation of patients with schizophrenia or bipolar disease. Ferrer has European rights to the drug under a deal with USA-based Alexza Pharmaceuticals (Nasdaq: ALXA).

Under the terms of the accord, Ferrer grants exclusive rights to Medivir to promote, market, sell and distribute Adasuve in the Nordic region – including Denmark, Finland, Norway, Iceland and Sweden. Adasuve is a hand-held inhaler designed to deliver the drug to the deep lung, providing rapid systemic delivery in a simple, non-invasive manner. Medivir thus becomes the exclusive supplier of this new treatment therapy for the treatment of mild to moderate agitation of patients with schizophrenia or bipolar disease. In return, Ferrer will receive an up-front payment upon signature, and milestone payments conditional upon cumulative sales performance. Further financial terms of the deal were not disclosed.